Oceanus Resources Launches On VRIFY And Will Be Exhibiting At The San Francisco Silver & Gold Summit And New Orleans Investment Conference
Oct 25, 2019HALIFAX, NOVA SCOTIA – October 25, 2019 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) ("Oceanus" or the “Company”) announces that it is now live on VRIFY, a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations.
VRIFY Presentation and Deck
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Oceanus Company Profile on VRIFY at: https://vrify.com/explore/companies/oceanus-resources-corporation
View the 360° virtual tour of the El Tigre Project and interactive 3D model at: https://vrify.com/explore/projects/481/sites/4091
The Silver & Gold Summit 2019 VRIFY Deck presentation can be viewed at: https://vrify.com/explore/decks/492
The VRIFY Presentation and VRIFY Deck can also be viewed on the Oceanus website at: https://www.oceanusresources.ca/
Conferences
Oceanus is attending The Silver & Gold Summit, October 27-28, 2019, being held at the Hyatt Regency, 5 Embarcadero Center, San Francisco, CA. Conference attendees are invited to visit with Oceanus Management at Booth 307. Oceanus’ CEO, Glenn Jessome, is presenting at the conference on Monday, October 28th at 11:50 am PST. For more information please visit: https://cambridgehouse.com/silver-gold-summit
Oceanus Management is also attending the 2019 New Orleans Investment Conference, November 2-4, 2019, being held at the Hilton New Orleans Riverside. This year marks the 45th anniversary of this conference. Conference attendees are invited to visit with us at Booth 317. For more information please visit: https://neworleansconference.com/
Exploration Update
Following the completion of the El Tigre resource estimation in September 2017, Oceanus directed its exploration efforts during 2018 at identifying other areas of gold-silver mineralization across the expansive property holdings (21,774 hectares). The 2018 prospecting and mapping program identified in excess of 10 kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of mineralization identified to the south, east and north-east of the old El Tigre Mine. The El Tigre formation is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).
Oceanus' drilling after filing its’ 43-101 compliant resource estimate intersected similar-style gold-silver mineralization in the El Tigre formation at the Protectora, Caleigh (new discovery by Oceanus) and Fundadora (exploration drifting by Anaconda Mining in 1983) areas to the north of the old mine, as well as to the south, past Gold Hill (refer to map below). Drilling to the north of the old mine late in 2017 returned the following impressive gold-silver intercepts:
| Hole ID | Comment | From | To | Length(1) | Au | Ag | AuEq(2) |
|---|---|---|---|---|---|---|---|
| (meters) | (meters) | (meters) | (g/t) | (g/t) | (g/t) | ||
| ET-17-144 | 88.25 | 91.40 | 3.15 | 10.1 | 1,990.9 | 36.6 | |
| including | 88.25 | 89.10 | 0.85 | 37.2 | 7,338.9 | 135.1 | |
| and | 188.65 | 190.15 | 1.50 | 0.024 | 1,107.3 | 14.8 | |
| ET-17-145 | 28.50 | 29.25 | 0.75 | 10.9 | 2,830.4 | 48.7 | |
| ET-17-148 | 90.10 | 90.60 | 0.50 | 9.83 | 2,247.1 | 39.8 |
Notes to Table:
- True width has not been calculated for each individual intercept, but true width is generally estimated at 75-90% of drilled width. Metallurgical recoveries and net smelter returns are assumed to be 100%.
- Gold Equivalent (“AuEq75”) ratio based on gold to silver price ratio of 75:1 Ag:Au.
These diamond drill holes were some of the last holes drilled by Oceanus with no follow up work in this area having been undertaken. The Company has recently mobilized the exploration team back to the property to continue prospecting and mapping, as well as, sampling in area of the Caleigh vein. The objective of this program is to ready targets for a drill program.
Map of El Tigre Concessions
About Oceanus Resources Corporation
Oceanus Resources Corporation is a gold and silver exploration and development company operating in Mexico, with 100% ownership of the 35-kilometre-long, royalty free El Tigre property located in Sonora. A maiden resource estimate for the El Tigre project was reported on September 13, 2017 and filed on SEDAR on October 26, 2017 containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The full National Instrument 43-101 technical report is posted to the Company’s website, and can also be accessed by clicking here. Oceanus is managed by a team of mine finders with extensive experience exploring and developing large hydrothermal gold projects in Mexico. Oceanus is currently exploring the El Tigre Property in the Sierra Madre Occidental.
For further information, please contact:
Glenn Jessome
President and Chief Executive Officer
Tel: 902 492 0298
Email: jessome@oceanusresources.ca
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to the Ocampo mine, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as “may”, “is expected to”, “anticipates”, “estimates”, “intends”, “plans”, “projection”, “could”, “vision”, “goals”, “objective” and “outlook” and other similar words. Although Oceanus believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oceanus’s expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Oceanus with securities regulators.
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